ATI Technologies (ATYT) Sees Large Q4 Revenue Shortfall
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ATI Technologies Inc. (NASDAQ: ATYT) announced that consolidated revenue for the fourth quarter of fiscal 2006 is currently expected to be approximately $520 million. This is below the low end of the revenue range provided on June 29, 2006, before the announcement of the acquisition agreement with Advanced Micro Devices, Inc. (NYSE: AMD). The consensus is $643.4 million.
The company said the anticipated revenue shortfall is due primarily to lower sales volumes of integrated chipsets for Intel-based platforms. In addition, handheld revenue was lower than expected, reflecting a supply chain adjustment by one of ATI's major customers. The company believes this adjustment is temporary in nature and should not have a long-term impact on revenue.
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